Legal Question in Real Estate Law in Florida
I entered a year long home lease with the understanding that the landlord was halting mortgage payments for the purpose of a loan modification. I have since seen documents stating that the property is in final foreclosure proceedings. I am now prepared to purchase a home and need to know what my abilities are to terminate the lease early. If the property is foreclosed upon and the bank takes ownership, is my contract then void? Are there other means to terminate the lease without penalty of full payment of the remainder of the lease?
1 Answer from Attorneys
Yes, if the bank takes the property it will evict you. This is enough reason for you to terminate the lease. Tell the landlord that you want a written statement of the name and account number at the bank where he is keeping your damage deposit, and confirm that it is really there. If he doesn't have enough money to pay his mortgage payments, he may not have your deposit either. This is a violation of state law. See a real estate attorney to have your documents reviewed before taking final action and vacating the property.
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